Citigroup to Expand Credit-Card Business in India

By

Nupur Acharya

May 25, 2012 9:22 a.m. ET

MUMBAI—Citigroup Inc. is planning to expand its Indian consumer-banking operations by ramping up its credit-card business and adding one million new customers from the urban middle class over the next two to three years.

The plans are a sharp change for New York-based Citigroup, which along with several other foreign lenders was burned by bad debt not too long ago as the global economic crisis led many customers to default on...